Hi Blue,

REC may be a good target. It's alway good to have some elbow room when you plan an open-pit mine. Even though through the JV PRB can get 70%, upon spending x dollars (I don't remember the terms, but it would be in the order of $M. The Market cap for REC is about only 664k... and if PRB offered 50% premium (say about $1M) REC shareholder would go for it, since there has not been any exciting news from the 10-hole JV drilling. Let's postulate that that piece of JV property has no gold, then PRB can use it to store overburden, waste rock, and tailings, etc...On the other hand, if there is some gold from future drilling then the JV land could be a bonanza.

Personally, I would spend $1M for this fairly large chunk of land, just to get some elbow room. Bulldozers, diggers and trucks need room to move around.

goldhunter